Shell Q2 2026 profit more than doubles amid Middle East war FAST-MOVING
Shell reported adjusted net profit of $9.84 billion for the second quarter of 2026, more than double the $4.26 billion earned in the same period a year earlier. The result topped analyst forecasts that had expected earnings of about $8.9‑9.7 billion. Revenue rose 45 % year‑on‑year to $96.4 billion.
The surge was driven by higher refining margins, strong LNG and gas‑trading performance and higher oil prices linked to the conflict between the United States and Iran, which disrupted global oil and gas flows. Despite a roughly 30 % cut in output at Shell’s Pearl LNG plant in Qatar after an attack on a production train, the company reduced net debt to $41.8 billion from $52.6 billion at the end of Q1 2026. The firm continued its $3 billion share‑buyback programme for the quarter.
Shell’s earnings represent its best quarterly profit since Q2 2022 and come as fuel prices remain high for consumers, with gasoline in Germany still above €2 per litre.
Entities: Amore Mio I · CMA CGM S.A. · Capital Clean Energy Carriers Corp · Gerasimos Kalogiratos · Iran · Pearl LNG plant · Pearl gas‑to‑liquids plant (Qatar) · Shell plc · U.S.–Israel–Iran war · United States · Wael Sawan
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 5 SOURCES] Analysts expected Shell's adjusted profit to be $8.92 billion. (Analyst consensus)
- [● 14 SOURCES] Shell's adjusted earnings for the second quarter of 2026 were $9.84 billion. (adjusted earnings)
- [● 6 SOURCES] Higher oil and gas prices and market volatility from the US‑Israel‑Iran war boosted Shell's earnings. (Company commentary)
- [● 8 SOURCES] Shell's net debt fell to $41.8 billion from $52.6 billion at the end of Q1 2026. (financial data)
- [● 9 SOURCES] Strong LNG trading performance contributed significantly to Shell's profit increase. (trading contribution)
- [● 10 SOURCES] Shell will maintain a $3 billion share‑buyback programme over the next three months. (share buyback plan)
- [● 7 SOURCES] Production at Shell's Pearl gas‑to‑liquids plant in Qatar was halted in March after an attack damaged a train. (operational disruption)
- [● 14 SOURCES] The profit more than doubled from $4.26 billion in the same quarter of 2025. (profit growth)
- [● 3 SOURCES] Shell reduced its net debt to $41.8 billion.
- [● 9 SOURCES] Analysts had expected Shell's Q2 profit to be around $8.9‑9.7 billion. (analyst expectations)
- [● 5 SOURCES] The profit rise was driven by higher oil and gas prices caused by the Iran war.
- [● 8 SOURCES] Shell's Q2 2026 revenue was $96.4 billion, up 45 % year‑on‑year. (revenue)